Operations
Yes, times are tough, and brokers’ commercial clients are in a difficult financial situation during an economic recession, but brokers still have to ask their clients to pay their premiums. Brokers need their clients to pay up so that they’re not holding the burden of receivables, said Karen Ritchie, president of Toronto Insurance Council, during […]
By Adam Malik | June 24, 2020
3 min read
HR
Brokers are advised to be aware of the “second wave” — and that doesn’t refer to the anticipated increase in the number of novel coronavirus infections in the fall. No, brokers are now being cautioned about the new wave of carriers’ coverage changes and adjustments arising from the phased re-opening of Canadian businesses and the […]
By David Gambrill | June 22, 2020
2 min read
There’s a chance COVID-19 could claim a Canadian insurer, one property and casualty insurance expert believes. “Canada has been blessed for a sustained period with no insurer failings — but there will be one,” warned Alister Campbell, president and CEO of the Canadian Property and Casualty Insurance Compensation Corporation (PACICC). Campbell was speaking as a […]
By Adam Malik | June 22, 2020
Tech
Brokerages who use artificial intelligence could find opportunities to upsell based on changes in a client’s lifestyle, according to a software vendor executive. The more data you feed a machine learning model and the more you train it, the better it gets, said Kevin Deveau, managing director of FICO Canada, part of San Jose, Calif.-based […]
By Greg Meckbach | June 18, 2020
Car shopping includes finding out how much insurance costs for one vehicle over the other and clients with a Mazda CX-3 will see the lowest insurance rates, according to a recent report. California-based online insurance quote aggregator site Insure.com annually tracks the least expensive vehicles to insure by gathering quotes from six major insurance companies […]
By Adam Malik | June 18, 2020
One question top of mind for brokers and their clients is: Will this remote work environment be something that we’ll see for the long term? Maybe not entirely, but there are parts we can take to make the broker world better than it was before. A few months ago, the walls came down and across […]
By Adam Malik | June 17, 2020
4 min read
As pandemic restrictions start to loosen and campgrounds open for the summer, brokers might want to ask home and auto customers if they own trailers. “It’s up to the broker to find out what type of trailer a customer owns, and then they can best determine whether it should be insured on an auto or […]
By Greg Meckbach | June 16, 2020
Saskatoon Insurance Agencies, which places home, auto, commercial and farm coverage, has been acquired by Andrew Agencies Ltd. effective June 1. Based in the Manitoba community of Virden, about 80 kilometres west of Brandon, Andrew now has 20 offices in Alberta, Saskatchewan and Manitoba. That includes the two Saskatoon locations for Saskatoon Insurance Agencies, which […]
The COVID-19 pandemic has pushed broker to be more than just advisors of insurance coverage — they’re offering broader financial guidance and services to their clients. Meanwhile, the economic recession resulting from the pandemic shifted the carriers’ focus towards “operational cadence,” meaning that the insurers’s role became one of managing the underlying conditions in the […]
By Adam Malik | June 16, 2020
TORONTO – The Ontario government is putting a temporary ban on commercial evictions to help small business owners who are struggling to pay their rent amid the COVID-19 fallout. Premier Doug Ford says the moratorium applies to small businesses who qualify for the Canada Emergency Commercial Rent Assistance program, where their revenues have dropped at […]
By The Canadian Press | June 8, 2020
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